FEBE Ventures’ identify stands for “for entrepreneurs by entrepreneurs,” and true to kind, it’s persevering with to assist seed-stage startups with the launch of its second fund. Concentrating on $75 million, Fund II is 2.5 occasions bigger than FEBE’s first fund and 90% has already been dedicated. As a part of the launch, FEBE Ventures additionally introduced a co-investment partnership with Tekton Ventures.
FEBE Ventures was co-founded in 2019 by managing associate Olivier Raussin. To date, FEBE Ventures has backed greater than 200 corporations, together with Native, Zenyum, Tindle, Silverbird and Manatal. New members of its management crew embody Nicolas El Baze, who was a normal associate at Partech and likewise based a number of startups, together with Microsoft-acquired Softway Programs; tech entrepreneur and angel investor Aditya Pendyala; and Tekton Ventures managing associate Jai Choi.
Fund II’s anchor investor is Otium Capital, a world household workplace based by Pierre-Edouard Stérin, a serial entrepreneur whose startups embody Smartbox Group. Otium Capital, which additionally backed FEBE Ventures’ first fund, manages $1.4 billion AUM in 100 investments and has seen greater than 25% IRR because it was began.
Whereas FEBE Ventures’ first fund centered on Southeast Asia, its second fund’s wide-ranging funding thesis is pre-seed and seed-stage corporations throughout completely different geographies and sectors.
“We love B2B, however we additionally love healthcare. We love sustainability and local weather tech,” Raussin tells TechCrunch. “However we’re very people-driven, founder-centric and founder-driven. We at all times think about that founders know greatest, so we allow them to shock us and we’re more than pleased to find new industries and new themes.” Its typical examine measurement shall be round $250,000.
FEBE II will nonetheless make investments quite a bit in Southeast Asia, Raussin says, however one of many causes it’s taking a extra international method is due to new collaborations that increase its community all over the world.
FEBE Ventures’ crew
Febe Ventures’ new associate Tekton Ventures is the San Francisco-based tech funding arm of Partech founder Vincent Worms’ household workplace. Choi led its investments in unicorns in several nations, together with Coupang, Toss, Merman, Newports, Flutterwave and Signifyd. The partnership will allow FEBE Ventures and Tekton Ventures to share their networks in Southeast Asia, Silicon Valley, Latin America and Europe and spend money on extra corporations all over the world, particularly in rising economies.
The partnership will see Choi and El Baze tackle roles as associate and enterprise associate, respectively, at FEBE Ventures.
All 4 members of FEBE Ventures’ management crew are former entrepreneurs who, between them, have launched dozens of corporations and labored as traders all over the world, Raussin says. In backing startups, they search for the form of providers and merchandise they dreamed of once they had been beginning corporations.
That additionally influences the best way they work together with founders, he provides. “We attempt to be very candid and genuine and share with a whole lot of humility the errors we’ve carried out previously to ensure that them to avoid wasting time. We even have a mindset of constructing sustainable companies that generate EBITDA and revenue in the long term.”
FEBE Ventures and Tekton Ventures determined to work collectively as a result of each have international funding theses. “We’re very geographically complementary and that’s the reason we determined to craft these unique and long-term partnerships to work along with the co-investment scheme,” Raussin says. “We shall be sharing our deal stream and co-investing collectively.”
By way of FEBE Ventures’ collaboration with Otium Capital, Raussin stated, “[Stérin] reached $1.4 billion ranging from scratch, so he’s actually additionally an entrepreneur. We share the identical human values and the identical entrepreneurial mindset, and we collaborate nicely collectively.”